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the fiscal cliff, tax rates will go up 9% to 33% for most all americans. that would also mean havoc for payroll companies and the irs that would have tro stro struggh how to handle withholding starting on january 1st. also unemployment benefits, those actually ran out today. that's something that republicans and democrats, we understand, are talking about right now. what else is at stake in the fiscal cliff? let's look at some other issues, things that we're not sure will be in a deal that comes out this week. at the top of that list, government spending cuts. that's about 8% to 10% in cuts to most every federal agency. also a pay cut for medicare doctors of 27% that would hit after january 1st. finally, don, there are a slew of other tax hikes. the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what
john boehner were working on a much bigger package obviously, not just to avoid the fiscal cliff but to try and tackle the long-term fiscal health of the country, trying to overall it was expected to raise some taxes, try to deal with entitlement reform and tax reform, those other big things like entitlement reform and tax reform get kicked into the new year, dana, so it's the gift that keeps on giving on this cli clifftmas. >> taking this pretty far. one of the key questions is whether or not senate democratic leader harry reid will be able to get enough republicans in the senate to vote on anything that will keep taxes low and maybe cut some spending. is the white house optimistic enough that the president might come back early to -- maybe he thinks he might have something to sign? >> i think it is expected that the president will come back early. probably whether or not he has something to sign because -- because obviously he's going to have to even maybe be twisting arms and lobbying some senators in his own party. the big question right now is what is this measure that he wi
Search Results 0 to 1 of about 2

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